Payments

In an effort to reduce banking costs, some people have asked us instead of Zippay can they offer a direct bank account system as cash is slowly declining.

The short answer is *YES*, maybe and no.

The first point is you do not want to create what we call any type of friction if someone wants to pay with a particular payment method then I suggest you give them that option, particularly as it is an easy and cheap option plus it does offer what every business needs to provide a fee-free way to pay.

The problem is that today people want an immediate solution, that is the problem with laybys nowdays too which is on a steep decline.

A direct bank deposit takes time, while the other methods like PayPal, Credit cards, Afterpay or ZipPay are instant.

A year ago here I spoke of the growing market of the "Buy now, pay later" market of which the two big players are Afterpay and Zip. Well a year later, it is clear that the growth of these payment methods has increased.

PosBrowser has launched a new facility for you and your clients. We now offer a Zip Pay payment type directly built into the PosBrowser register. This week we were joined by Andreas Collier from Zip pay to discuss and demonstrate how easy it is to setup and use as well as answering a bunch of question you may be interested in hearing.
Watch the video and see what you think.
Also as a special offer to PosBrowser user, Andreas will personally handle the process of getting your ZIP PAY account activated and the details you will need for integrating ZIP with PosBrowser. Just contact him via email [email protected]

If you find this video helpful or you have any question please reply in the comments. Also check out our blog often to see what the next webinar is going to cover in our weekly sessions or make a suggestion for a topic you'd like to hear more about.

A lot of my clients do a lot of business taking EFTPOS payments over the phone (MOTO). It is a business risk, that most retailers know as the problem here is that in the event of a dispute it is the retailers that has to prove the cardholder approved the transaction.

The problem can be that if the shop is registered to do such MOTO payments, now let us say a customer comes in and buys some goods. They are given the terminal as above to process the EFTPOS and most salespeople purposely do not look at the processing of the transaction to reassure the customer that they are not looking at their security codes. What a fraudster can do then is cancel the transaction and while no-one is looking activate on some terminals the MOTO function. Then process the transaction. This will allow stolen EFTPOS cards to be used over the security limit. A short time later the retailer gets a query from the bank and almost certainly a reversal of the payment.

What I recommend is that you have cameras recording all EFTPOS transactions and if possible on the terminal that customers have access, disconnect the MOTO function.